The Board of Control for Cricket in India (BCCI) released an invitation to tender for the media rights cycle for Indian Premier League on March 29. The media rights are projected to be worth Rs 32,890 crore at their base price. On June 12, prominent broadcasters and over-the-top (OTT) participants will bid for the next cycle of the IPL, one of the most valuable cricket commodities in the world.
It might top analyst estimations of INR 45,000 crore if bidding for Package A and B continues till 6 p.m. (USD 5.8 billion approx).
On June 13, the auction for package C (non-exclusive) and package D (rest of the globe) will begin.
Reliance Viacom18, Disney Star, Sony Network, and Zee are the leading contenders for package A (TV-Indian Subcontinent) broadcast rights. Reliance, Viacom18 (Jio and Voot), Disney Star (Hotstar), Sony Network (SonyLIV), Zee (Zee5), and Times Internet are competing for package B (Digital). Amazon has withdrawn from the contest to acquire the IPL’s broadcasting rights for the next five years.
The total amount of bids, including TV and digital, is expected to be about Rs 43,000 crore. For all games, the rights are for the Indian subcontinent. The combined bidding for package A and package B for each match have surpassed INR 100 crore.
Jay Shah, the secretary of the BCCI, has laid out the plan of Indian cricket’s regulatory body ahead of the auction for IPL media rights. The IPL has launched four distinct packages for the current cycle 2023-27, potentially allowing the cash-rich league to have three to four different broadcasting partners.
Shah defended the decision by saying that the National Football League (NFL) in the United States has seven broadcasting partners, and the IPL is seeking for three to four partners this cycle.
“They have seven broadcasting partners, we are looking at just three or four. If we had done this conventionally, we would have only a limited number of participants. We introduced Package C because we wanted many players to participate in the tendering process. This helps cricket grow, we need to expand the game and this will help. If more players are in the fray, it will be good for the game,” the BCCI secretary told Indian Express.